Equity in Earnings of Other Ventures Year ended December 31, 2021 2020 2019 (in thousands) Top &ayer Re $ 8,286 $ 9,595 $ 8,801 Tower "ill Companies (2,073) 3,104 10,337 )ther 6,096 4,495 4,086 Total equity in earnings of other ventures $ 12,309 $ 17,194 $ 23,224 quity in earnings of other ventures represents our prorata share of the net income from our investments in the Tower "ill Companies, Top &ayer Re, and our equity investments in a select group of insurance and insurancerelated companies, which are included in )ther. xcept for Top &ayer Re, which is recorded on a current quarter basis, equity in earnings of other ventures is recorded one quarter in arrears. The carrying value of these investments on our consolidated balance sheets, individually or in the aggregate, may differ from the realized value we may ultimately attain, perhaps significantly so. arnings from our investments in other ventures was $12.3 million in 2021, compared to earnings of $17.2 million in 2020, a decrease of $4.9 million, principally driven by reduced profitability of our equity investments in the Tower "ill group of companies, primarily as a result of underwriting losses during 2021. quity in earnings of other ventures was $17.2 million in 2020, compared to $23.2 million in 2019, a decrease of $6.0 million, principally driven by reduced profitability in the Tower "ill Companies, partially offset by improved profitability in Top &ayer Re and our equity investments within the other category . Other Income (Loss) Year ended December 31, 2021 2020 2019 (in thousands) ssumed and ceded reinsurance contracts accounted for as derivatives and deposits $ 5,905 $ (1,177) $ 4,473 )ther 4,975 1,390 476 Total other income (loss) $ 10,880 $ 213 $ 4,949 In 2021, we generated other income of $10.9 million, compared to $0.2 million in 2020, an increase of $10.7 million, driven by a gain on the sale of a portion of our strategic investments recorded under the equity method and lower losses from assumed and ceded reinsurance contracts accounted for at fair value during 2021. In 2020, we generated other income of $0.2 million, compared to $4.9 million in 2019, a decrease of $4.7 million, driven by losses on our assumed and ceded reinsurance contracts accounted for as derivatives and deposits. Corporate Expenses Year ended December 31, 2021 2020 2019 (in thousands) Total corporate expenses $ 41,152 $ 96,970 $ 94,122 Corporate expenses include certain executive, director, legal and consulting expenses, costs for research and development, impairment charges related to goodwill and other intangible assets, and other miscellaneous costs, including those associated with operating as a publicly traded company. In 2020 and 2019, corporate expenses also included costs incurred in connection with the acquisition of T'R. rom time to time, we may revise the allocation of certain expenses between corporate and operating expenses to better reflect the characteristic of the underlying expense. 87